Commodity Market Financialisation: A Closer Look at the Evidence
There is some debate about whether financial investors have caused excessive increases in the level and volatility of commodity prices. These investors are viewed by some as being less concerned with fundamentals than traditional market participants and hence impeding the price discovery process – that is, they are destabilising speculators or ‘noise traders’. This article discusses the relationship between the futures markets for commodities (where financial investors are most active), and the spot markets. It then argues that the evidence does not support the hypothesis that financialisation has been the main driver of commodity price developments in the 2000s.
Volume (Year): (2012)
Issue (Month): (March)
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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Yasunari Inamura & Tomonori Kimata & Takeshi Kimura & Takashi Muto, 2011. "Recent Surge in Global Commodity Prices-- Impact of financialization of commodities and globally accommodative monetary conditions --," Bank of Japan Review Series 11-E-2, Bank of Japan.
- Renee Fry & Callum Jones & Christopher Kent, 2010. "Inflation in an Era of Relative Pirce Shocks," CAMA Working Papers 2010-38, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
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